NewGen Asset Management Ltd Buys 500,000 Shares of Coeur Mining, Inc. (NYSE:CDE)

NewGen Asset Management Ltd increased its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,300,000 shares of the basic materials company's stock after purchasing an additional 500,000 shares during the quarter. Coeur Mining accounts for 5.0% of NewGen Asset Management Ltd's investment portfolio, making the stock its 5th biggest holding. NewGen Asset Management Ltd owned approximately 0.20% of Coeur Mining worth $7,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Coeur Mining by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company's stock worth $232,805,000 after acquiring an additional 3,178,785 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Coeur Mining by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company's stock worth $98,137,000 after acquiring an additional 282,885 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Coeur Mining by 11.1% in the fourth quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company's stock worth $76,326,000 after acquiring an additional 1,332,684 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Coeur Mining by 57.8% in the fourth quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company's stock worth $41,245,000 after acquiring an additional 2,641,310 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Coeur Mining by 404.6% in the fourth quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company's stock worth $29,110,000 after acquiring an additional 4,080,600 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Up 0.7%

Shares of CDE stock traded up $0.07 during trading hours on Friday, reaching $9.28. The company had a trading volume of 11,891,248 shares, compared to its average volume of 12,942,854. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. Coeur Mining, Inc. has a twelve month low of $4.57 and a twelve month high of $9.69. The company has a market capitalization of $5.93 billion, a P/E ratio of 77.30 and a beta of 1.30. The stock's fifty day simple moving average is $7.09 and its 200 day simple moving average is $6.48.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. Coeur Mining's revenue for the quarter was up 69.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, sell-side analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Activity at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 12,350 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.40, for a total transaction of $91,390.00. Following the transaction, the chief accounting officer now owns 122,104 shares of the company's stock, valued at $903,569.60. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eduardo Luna sold 17,160 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total value of $134,362.80. Following the transaction, the director now directly owns 101,841 shares in the company, valued at approximately $797,415.03. This represents a 14.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,061 shares of company stock valued at $667,775. Insiders own 1.56% of the company's stock.

Wall Street Analysts Forecast Growth

CDE has been the subject of several analyst reports. TD Cowen upgraded Coeur Mining to a "strong-buy" rating in a research note on Tuesday, March 11th. Roth Mkm dropped their target price on Coeur Mining from $8.50 to $8.25 and set a "buy" rating for the company in a research note on Friday, February 21st. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research note on Thursday. BMO Capital Markets initiated coverage on Coeur Mining in a research note on Tuesday, February 18th. They issued an "outperform" rating and a $9.00 target price for the company. Finally, TD Securities initiated coverage on Coeur Mining in a research note on Tuesday, March 11th. They issued a "buy" rating and a $7.00 target price for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $8.10.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.